If you had been considering getting a higher-end device, say the Galaxy S3 with MetroPCS and are not liking the $499 purchase price — there may be some help available. Granted, this help is not going to lower the price of the handset, but there is now the ability to finance the phone. In fact, both MetroPCS and Leap Wireless (Cricket) are offering financing.

The financing offers will require the user to make a downpayment and then monthly payments. Nothing all that surprising in that respect. Both MetroPCS and Leap are offering financing through Progressive Finance. In addition, MetroPCS is also offering financing through a second company, BillFloat.

These finance companies are not requiring any credit checks, however you will need to have an active bank account. The companies will then make their money back on interest and repayment fees. Again, nothing all that surprising in that respect. MetroPCS did not go into specifics about the financing and instead confirmed to Fierce Wireless that they “allow customers the ability to use MetroPCS’ 4G LTE services on higher-priced handsets.”

As for Leap, it was mentioned that financing was available for those spending more than $200 and that customers will be able to finance up to 90 percent of the purchase price. Further details include having up to nine months to pay the financing down and not having to pay any interest if you are able to pay the loan within 90 days.

Bottom line, this could finally be an easier way for someone to get into a prepaid arrangement with a high-end device. Of course, we suggest paying that loan quickly to avoid those interest charges.